Southwest Airlines plane. Credit: Diego M. Radzinschi/ALM
On the heels of several significant Employee Retirement Income Security Act ERISA class settlements in 2024, Southwest Airlines was hit with a class action lawsuit, alleging it breached basic fiduciary duties under ERISA and violated its fiduciary duties by mismanaging the company’s Retirement Savings Plan, after 15 years of “chronic underperformance,” according to an announcement yesterday from Sanford Heisler Sharp McKnight. The law firm filed a lawsuit in the U.S. District Court for the Northern District of Texas on behalf of the plaintiffs.
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Lynn Cavanaugh
Lynn Varacalli Cavanaugh is Senior Editor, Retirement at BenefitsPRO. Prior, she was editor-in-chief of the What's New in Benefits & Compensation newsletter. She has worked for major firms in the employee benefits space, Vanguard and Willis Towers Watson, as well as top media companies, including Condé Nast and American Media.
